Central: put brokerage firms on the blacklist of anti-money laundering and the financing of terroris

Central: put brokerage firms on the blacklist of anti-money laundering and the financing of terrorism


Range / Zahraa Al-Jassem

A few days from the inclusion of the US Treasury Department 's local Iraqi banking companies within the black list without offering any explanation on the reasons for this behavior after, the Central Bank of Iraq , the other is the listing of companies on the local banking blacklist. As confirms the official source at the central bank that the move came in the context of the Bank 's commitment to international standards designed to combat money laundering and the financing of terrorism, in favor of an economic expert that these measures with being help to deter acts of undisciplined and non - sensitive financial work in Iraq, it draws not to to achieve the main objective of the elimination of irregularities committed by the local banking companies and financial institutions. According to a list posted on the Office of Foreign Assets Control (OFAC) of the US Treasury Department, and the stomach in the 6th of this month, the 96 banks and banking office in Iraq, listed on the blacklist US (SDN).
In charge of the central bank , who preferred anonymity , the source said in response to a question (range), on how to put the companies or banks on this list, and why is not the withdrawal of the license of them if they are contrary: The Central Bank of Iraq is committed to international standards that aim and calls for the fight against money laundering and the financing of terrorism, as it is part of the global financial system, he supported the decisions issued by the US Treasury Department, which on the status of financial institutions on the blacklist because of its activities in support of terrorism, adding that putting these companies on the black list, whether whether exchange companies or the Open Financially at night or even banks is away from any both at home and abroad , and with any other financial institution financial transaction, in the sense that all financial relations go with it.
The source explained: the existence of global standards dealing with the fight against money laundering and the financing of terrorism, the central bank is committed to it , but it applied these standards to the fullest, therefore, there is a list published by the Central Bank of Iraq from time to time on its website, and in which a number of companies, banks, companies transfer and exchange Dakhla on the black list, which exceeded the number of "100 exchange company and money transfer" and about three banks, stressing that sanctions remain on these companies they will not be lifted only after confirming their safety, and some of them have already been withdrawn licenses of which stopped working permanently .
The central bank has been included Sunday 18 this month, a number of financial intermediation companies blacklisted for having provided support and funding for terrorist entities, as demanded by the banks and financial institutions not to deal with those entities directly or indirectly.
Says economist Majid picture in an interview with (range): The company if licensed by the central bank and placed on the black list, it is usually withdrawn the license of them, and hold placed on the black list is based on the lack of applied standards and regulations set by the Central Bank, and violating all the issues related to practices prohibited, adding: if the central bank directs a particular work of this company and is doing more than that, this is a violation of the instructions and enters the placed money laundering or cooperate with terrorism, therefore, all matters relating to the issue of defending the right style to do the work , e To make the central bank calculates the license from this company or that.
It explains the picture, that the development of any company in the black list requires the central bank 's decision to withdraw the license it, and according to the criteria of the contrary must withdraw the license of it, but it also is after many steps, it is usually at the inspection and the discovery of irregularities the company violation warning then monitor the implementation of the instructions, and if not the process of implementation of these observations, here must withdraw the license it, but he also: that this talk is not about banks, it is for banking companies and financial institutions, and in all cases , even these measures taken by the central bank against offending companies between the period and the other did not reach Alentij Optimal with regard to the elimination of irregularities, but she may help deter those who want the offense and deter acts of undisciplined or not going according to the laws and regulations in force for the financial work in Iraq.
The central bank said in a press statement that the 'US Treasury has praised the actions taken by the Iraqi authorities to impede the dealings of financial Daesh in Iraq, and that it is implementing an elaborate system of anti - money laundering and combating the financing of terrorism, which has helped to strengthen Iraq 's ability to protect its financial exploitation by Kdaash terrorist groups.


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